#CryptoMarketDip
What could happen to XRP after the market drop?
Ripple Price Analysis
The market activity of Ripple reflects a period of balance, with buyers and sellers caught in a stalemate.
The lack of volatility underscores indecision and emphasizes the need for a breakout to define the next direction of the cryptocurrency.
XRP Analysis by Shayan
The daily chart
The price action of XRP has been confined to a wedge pattern since it faced rejection at the resistance level of $3. This has resulted in moderate market activity and low volatility, with the asset fluctuating within the range of $2-$3. The current price behavior reflects the balance in the market, as neither buyers nor sellers have managed to gain a decisive advantage.
A breakout from this wedge pattern and price range is essential for XRP to initiate a clear directional movement. If buyers manage to push the asset above the $3 resistance, Ripple could experience a solid rally towards higher price levels, possibly even surpassing its previous all-time high.
Conversely, if sellers manage to drag the price below the $2 support level, the downward momentum will likely lead to a drop towards the 100-day moving average, reinforcing the importance of the $2 threshold as a critical defense line for buyers.
